DayStar will need $180 million in the future

In a filing made Monday with the Securities and Exchange Commission, the Halfmoon-based solar cell manufacturer said that it plans to sell up to 17.25 million shares of stock in a deal that could raise $90 million.

DayStar, which is moving its headquarters to California, plans to use the proceeds from the sale to repay $9 million in loans from a New York City hedge fund and to build a $35 million factory in Santa Clara, Calif.

But that document also says that DayStar will need an additional $180 million to become profitable, which includes $115 million for a larger factory that it is planning to build somewhere in the world.

Shares of DayStar (Nasdaq: DSTI) were trading at $4.88 this afternoon, down 12 cents, or 2.4 percent, for the day.